Billionaire Warren Buffett's Berkshire Hathaway divested itself of more Bank of America shares this week, taking its stake in the US bank to less than 10%.
A Berkshire sold 9.5 million shares valued at US$382.4 million this week, according to a regulatory document released this Thursday.
The SEC, the US capital markets regulator, requires that only shareholders holding more than 10% of a company disclose purchases and sales of shares within two business days.
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Now, BofA investors will likely have to wait for Berkshire's quarterly financial statements or quarterly shareholding disclosures to find out whether the Omaha, Nebraska-based company has sold more shares.
The company began reducing its holdings in mid-July, when it sold about 33.9 million shares for about $1.48 billion. By then, the investment giant had raised more than 10 billion dollars.
(Reportagem de Jaiveer Singh Shekhawat in Bengaluru)